200709607 - Laserfiche WebLink

Browse

200709607 Payments are deemed received by Lender when reeeived at the location designated in the Note or at such other location as may be designated by Lender in accordance with the notice provisions in Section 15. Lender may return any payment or partial payment if the payment or partial payments arc insufficient to bring the Loan current. Lender may accept any payment or partial payment insufficient to bring thc Loan current, without waiver of any rights hereunder or prejudice to its rights to refusc such payment or partial pa>'lnents in the future, but Lender is noT. obligated to apply such payments at the time such payments are accepted. It each Periodic Payment is applied as of its scbeduled due date, then Lender need not pay interest on unappl ied funds. Lender may hold such unapplied hmds until Borrower makes payment to bring the Loan current. If Borrower does not do so within a reasonable period of time, Lender shall either apply such funds or retum tbem to Borrower. Ifnot applied earlier, such funds will be applied to tbe outstanding principal balance under the Note immediately prior to foreclosure. No oilset or claim wbicb Borrower might have nOW or in the future against Lender shall relieve Borrower from making payments due under tbe Note and this Security Instrument or performing the covenants and agreements secured by this Security Instrument. 2. Application of Payments or Proceeds. Except as otherwise described in this Section 2, all payments aeceptcd and applied by Lender shall be applied in the following order of priority: (a) interest due under the Note; (b) principal due under the Note; (c) amounts due under Section 3. Such payments shall be applied to each Periodic Payment in the order in which it became due. Any remaining amounts shall be applied first to late charges, second to any other amounts due under this Security Instrument, and then to reduce the principal balance of the Note. If Lender receives a payment from Borrower for a delinquent Pen odic Payment which includes a sufficient amount to pay any late charge due, the payment may be applied 1.0 the delinquent payment and the late chargc. If more than one Periodic Payment is outstanding, Lender may apply any payment receIved from Borrower to the repayment ofthe Periodic Payments if, and to T.he eXT.cnT. that, each paymcnt can be paid in full. To the extent thaT. any excess exists after the payment is applied to the full payment of One Or more Periodic Payments, such excess may be applied to any late charges due. Voluntary prepayments shall bc applied first to any prepayment charges and then as described in the Note. Any application of payments, insurance proceeds, or Miscellancous Proceeds to principal due under the Note shall not cxtend or postpone the due date, or change the amount. oflhc Periodic Payments. 3. Funds for Escrow Items. Borrower shall pay to Lender on thc day Periodic Payment. are due under the Note, until thc Notc is paid in full, a sum (the "Funds") to provide for payment of a mounts due for: (a) taxes and assessments and other itcms which can attain priority over this Security Instrument as a lien or encumbrance on the Property; (b) leasehold payments or ground rents on the Property, if any; (c) premiums for any and all insurance required by Lender under Section 5; and (d) Mortgage Insurance premiums, if any, or any sums payable by Borrower to Lender in lieu of the payment of Mortgage Insurance premiums in accordance with the provisions of Section I D. These items are called "Escrow Items." At origination or aT. any time during the term of the Loan, Lendcr may require that Community Association Ducs, Fees, and Assessments, if any, be escrowed by Borrower, and sucb dues. fees and assessments shall be an Escrow Item. Borrower shall promptly furnish 1.0 Lender all notices of amounts to be paid under this Section. Borrower shall pay Lender the Fund. for Escrow Iterns unless Lender waives Borrower's obligation to pay the Funds for any or all Escrow Items. Lender may waive Borrower's obligation to pay to Lender Fund, for any or all Escrow Items at any time. Any such waiver may only be in writing. In the event of such waiver, Borrower shall pay directly, when and where payable, thc amounts due for any Escrow Items for which payment of Funds has heen waived hy Lender and, if Lender requires, shall furnish to Lender receipts evidencing such payment within such time period as Lender may require. Borrower's obligation to make such payments and to provide receipts shall tor all purposes be deemed to be a covenant and agreement contained in this Security Instrument, as the phrase "covenant and ab'Teement" is used in Section 9. lfBorrower is obligated to pay Escrow Items directly, pursuant to a waiver, and Borrower fails to pay the amount due for an Escrow Item. Lender may exercise its rights under Section 9 and pay such amount and Borrower shall then be obligated under Section 9 to repay to Lender any such amount. Lender may revoke the waiver as to any or all Escrow Items at any time by a notice given in accordance with Section 15 and, upon such revocation, Borrower shall pay to Lcnder all Funds, and in such amounts, that are then required under this Section 3. Lender may, at any time, collect and hold Funds in an amount (a) sufficient to permit Lender to apply the Funds at the time specified under RESPA, and (b) not to exceed the maximum amount a lcnder can require under RESPA. Lender shall estimate the amount of Funds due on the basis of current data and reasonable estimates of expenditures offuture Escrow Items Or otherwisc in accordance with Applicable Law. Thc Funds shall he held in an institution whose deposits are insured by a federal agency, instrumentality, or entity (including Lender, if Lender is an institution whose deposits are so insured) or in any Federal Home Loan Bank. Lender shall apply thc Funds to pay the Escrow Items no later than the time specified under RESP A. Lender shall not charge Borrower for bolding and applying the Funds, annually analyzing the escrow account, or verifying the Escrow Items, unless Lender pays Borrower interest on the Funds and Applicable Law permits Lender to make such a charge. Unless an agrcement is made in writing or Applicable Law requires interest to bc paid on the Funds, Lender shall not be required to pay Borrower any interest or earnings On the Funds. Borrower and Lender can agree in writing, however, that intcrcst shall bc paid on thc Funds. Lender shall give to Borrower, without charge, an annual accounting ofthc Funds as required by RESPA. If there is a surplus of Funds held in escrow, as defined under RESPA, Lender shall account to Borrower for the excess funds in accordance with RESPA. Ifthere is a shortage of Funds hcld in escrow, as detlned under RESPA, Lender shall notify Borrower as required by RESPA, and Borrower shall pay to Lender the amount necessary to make up the shortage in accordance with RESPA, but in no more than 12 monthly payments. Iflhere is a deficiency of Funds held in escrow, as defined under RESP A, Lender shall notify Borrower as required by RESP A, and Borrower shall pay to Lender the amount necessary to make up the deficiency in accordance with RESP A, but in no more than 12 monthly payments. Upon payment in full of all sums secured by this Sccurity Instrument, Lender shall promptly refund to Borrower any Funds held by Lender. 4. Charges; Liens. Borrower shall pay all taxes, assessments, charges, fines, and impositions attributablc 1.0 the Property which can attain priority over this Security Instrument, leasehold payments or b'Tound rents on the Property, if any, and Community Association Dues, Fees, and Assessments, if any. To the extent that these items arc Escrow Items, Borrower shall pay them in thc manner providcd in Section 3. Borrower shall promptly discharge any lien which has priority over this Security Instrument unless Borrower: (a) agrees in writing to the payment ofthe ohligation secured by the lien in a manner acceptahle to Lender, but only so long as Borrower is performing such agreement; (b) contests the lien in good faith by, or defends alfainst enforcement of the lien in, lcgal proceedings which in Lender's opinion operate to prevent the enforcement of the lien while those proceedings are pending, but only until such proceedings are concluded; or (c) secures from the holder of the lien an agreement satisfuctoryto Lender subordinating the lien to this Security Instrument. If Lender determines that any part ofthe Property is subject to a lien which can attain priority over this Security Instrument. Lender may give Borrower a noticc identifying the lien. Within 10 days ofthe date on which that notice is given, Borrower shall satisfy the lien or take one or more of the actions set forth above in this Sect.ion 4. Lender may require Borrower to pay a one-time charge for a real estate tax verification and/or reporting service used by Lender in connection with this Loan. 5. Property Insurance. Borrower shall keep the improvements now existing or hereafter erected on the Property insured against loss by fire, hazard. included within the tern] "extended coverage," and any other hazards including, but not limited to, earthquakes and floods, for which Lender rcquires insurance. This insurance shall be maintained in thc amounts(including deductible levels) and for the periods that Lender requires. What Lender requires pursuanT. to the preceding sentences can changc during thc term of the Loan. The insurance carrier providing thc insurance shall he chosen hy Borrower subjcct to Lender's right to disapprove Borrower's choice, which right sball not be exercised unreasonably. NEBRASKA-Single Family--Fannie MaelFreddie Mac UNIFORM INSTRUMENT l,l7S4.CV (1/05) 6~9R557140 Form 3028 1101 (page 3 of'N page,,) Creati,. Thln~lng, Inc. GOTO(OOt6,707)